5 February 2024

 

On the 5th of February, the EU Commission adopted an Industrial Carbon Management Communication, which provides details on how technologies could contribute to reducing emissions by 90% by 2040 and reaching climate neutrality by 2050.

At the heart of this initiative is the creation of a unified CO2 market in Europe, along with the development of CO2 transport and storage infrastructure. Furthermore, the strategy includes the assessment of the volume of CO2 to be removed from the atmosphere and the creation of a favourable environment for carbon management projects.

Funding mechanisms, such as the Innovation Fund and the Emissions Trading Scheme (ETS), will play a key role in realising these objectives.

The entire communication here.